News Corp stocks up on Premiere shares | |
International media concern News Corp has upped its stake in German pay-TV operator Premiere from 25.1% to 29%, according to a filing to the U.S. Securities and Exchange Commission.
Industry observers believe that News Corp will continue to increase its shareholding in the Munich-based broadcaster, having already prepared the foundations for such a move. Germany’s federal financial supervisory authority, BaFin, released News Corp earlier this month from having to make a mandatory public takeover offer to Premiere’s shareholders if its stake rose to more than 30%, which would have pushed up the market value of Premiere shares.
Through the exemption, which was granted due to Premiere’s dire financial situation, News Corp can purchase the shares at a lower price. Company head Rupert Murdoch recently confirmed his interest in a full take-over of the Munich-based broadcaster.
Source:RapidTVNews | 
16-02-2009
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